"In Korea, sealed containers are our main product, but in Vietnam, tumblers account for the largest share of sales."
When asked about the background of the achievements made in the local market, Nam Seong-u, General Manager of the Lock&Lock Vietnam subsidiary, said this while meeting at the company's office in Ho Chi Minh City. He explained that Lock&Lock, which became known for its sealed containers in Korea, is growing in Vietnam by leading with tumblers and small home appliances.
Lock&Lock, which entered Vietnam in 2008, has grown to an annual sales scale of 80 billion won. Sales in the first half of this year increased by 52.2% compared to the same period last year. General Manager Nam cited a product strategy reflecting the lifestyles of local consumers and the building of a premium brand as the keys to growth.
Localization began with products. For Vietnamese consumers for whom motorcycle commuting is part of daily life, they developed loop-handle tumblers and enhanced cooling functions to suit the hot climate. General Manager Nam said, "Understanding the lifestyles and needs of local consumers and unveiling products suitable for the market turned into a competitive advantage."
While localizing products, they did not engage in price competition. General Manager Nam stated, "Since similar products easily appear in the household goods sector, it was important to first secure brand competitiveness," adding, "The strategy of positioning as a premium brand without getting caught up in price competition proved effective."
Offline stores played an important role in building a premium brand image. Lock&Lock operated direct stores at major shopping malls such as Landmark 81 to raise brand awareness. Subsequently, they expanded franchise stores and sales networks to provincial cities, currently operating a total of 57 direct and franchise stores.
Online distribution channels are also a pillar of growth. Lock&Lock is expanding sales on platforms such as Shopee, TikTok Shop, and Lazada, generating approximately 47% of total sales online. In two broadcasting spaces set up in the Ho Chi Minh City subsidiary office, hosts take turns conducting live commerce for about 15 hours a day. They also produce nearly 200 product review videos per month in collaboration with influencers. General Manager Nam emphasized digital channel competitiveness, stating, "We have acquired the capability to operate live commerce in-house rather than outsourcing it."
Changes are also being pushed forward to enhance competitiveness at the sales front. General Manager Nam said, "We have strengthened training for sales staff and introduced an incentive system that did not previously exist," adding, "Motivation based on performance is a key element in enhancing competitiveness at the sales front."
Lock&Lock plans to continue expanding store openings and sales channels within Vietnam. General Manager Nam stated, "The next five years will be a crucial period for positioning as a brand that leads the lifestyle of Vietnamese consumers as a premium home & living full liner," adding, "We will ensure that the Vietnam subsidiary plays a key role in achieving Lock&Lock's target of 800 billion won in global sales by 2030."
in LIVING
